6.775p - further room to fall?25 Nov 2021 11:40
I remember some time ago talk of a cup and handle formation on the SP which is typically (in widely traded shares not minnows) a bullish pattern.
Well now that the handle has broken and the beverage has been spilled, I wonder whether it is at all possible HZM revisits the last July lows?
5.85p was the low then.
Psychology plays a big part in this game, especially AIM so it is possible. Also the promise of multi-bag returns soon is also gone. All that is left now is the potential for a fair return maybe even 100%-150% from todays price but at what risk? and at what timeframe?
This is an AIM co run for the benefit now of the majors, managed by the BOD who want a job first and foremost and if there are any tradable opps maybe a PI will benefit.
Let me also mention as others are beginning to realise just now even though I have been screaming for weeks about this. Why aren't the BOD loaded up with shares? Still they are not buying. Still options which are optional of course.
Off-take collar? Is there one? How much is it?
Convertible loans. Seen them in other raisings and had the opportunity to observe throughout the years how they work. Hanging over the company like a Damocles sword.
So at 5.8-6p maybe I'll consider re-buying having sold out yesterday.
And a last thing. Beware of experts telling you they've topped up yesterday. Even I know that one should wait for the dust to settle first.